Crude oil and refined product contracts were higher by midday Monday, after President Trump warned he may impose “major” sanctions on Russian exports and pressed NATO allies to stop buying petroleum products from Moscow.
At noon ET, October NYMEX West Texas Intermediate was up by 40cts to around $63.10/bbl and November was also 40cts higher to $62.80/bbl.
London-based November ICE Brent was 25cts higher to about $67.25/bbl and December Brent was up by 30cts to $66.85/bbl.
Both oil benchmarks finished last week with gains of less than $1 after U.K. issued new sanctions against Russia including on dozens of its oil-carrying vessels.
In addition to urging NATO countries to stop importing Russian oil, Trump also told U.S. allies of the military bloc to consider tariffs of up to 100% on China and India for their purchases of Moscow’s crude.
Oil prices were also underpinned a day after Ukraine launched almost 400 drones targeting Russia that sparked a brief fire at an oil refinery in Kirishi in the country’s northwest.
October ULSD was 4.05cts higher to $2.3305/gal and November ULSD was up by 3.9cts to $2.3225/gal. October RBOB was up by 2.2cts to $2.0075/gal and
November was 1.8ct higher to $1.9465/gal.
This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.
–Reporting by Frank Tang, ftang@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com
(END) Dow Jones Newswires
09-15-25 1256ET